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Insurance Tips For Small Business Owners

1. Analyze the items on your balance sheet. This is the first step toward deciding what should be insured.

2. Be sure to insure your business real and personal property, public liability, workers compensation, business overhead, key person life, and major medical expenses.

3. Take a good look around --- what can't your business survive without? Identify the possible property, net income, legal liability and personnel losses that would impair the income or existence of your business.

4. Use the "worst case" scenario method. Think of the worst possible loss, what would be destroyed and in what position you would find yourself because of that loss.

5. Invest the time to read your policy and ask your agent to thoroughly explain your present coverage in easy-to-understand language.

6. Ask your agent to identify and explain for you the insuring agreements, conditions, exclusions and property and events not covered for each policy type you have.

Any other questions? We'll be glad to help. Call 860-283-0278


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